tv MONEY With Melissa Francis FOX Business October 29, 2014 2:00pm-3:01pm EDT
stimulus in the latest bond-buying program is coming to an end. you're looking at the major averages ahead of this news. right now the dow is down 43 points. we've got you covered. standing by ready to react we've got our all-star panel. we also have ron paul there you can see. now let's go to peter the fed. >> the fed finishes its qe bond purchases as expected and sets the stage for raising short-term interest rates as the economy improves with an emphasis on getting inflation to its 2% target. information received since the federal open market committee met in september suggests that economic activity is expanding at a moderate pace. this is the economic analysis section. labor market conditions improved somewhat further with solid job gains and a lower unemployment rate. on balance a range of labor market indicators such underutilization of labor resources is gradually diminishing. household spend something rising modestly and fixed business
investment is advancing while the recovery in the housing sector remains slow. inflation continued to run below the committee's longer run objective. inflation compensation have declined somewhat. survey based measure of longer term inflation expectations have remained stable. skipping over redundant parts the statement. although inflation in the near term will likely be held down by lower energy prices and other factors the committee judges that likelihood of inflation running persistently below its 2% target as diminished somewhat since early this year. the committee judges there has been a substantial improvement in the outlook for labor markets since the inception of its current asset purchase program. moreover, the committee continues to see sufficient underlying strength in the broader economy to support ending the asset purchase program of course does keep interest rates at zero to quarter percent. no change there. the vote on this, 9-1. melissa? dierdre: peter barnes thank you so much.
bring in the panel for reaction. fox business's charlie gasparino. tom sullivan along with moody's chief economist john lonski. john, what is your reaction? >> no big surprises from this report so far. everybody was looking at an end to the qe. melissa: okay. >> however it appears the fed implicitly plans to begin to hike rates at the june meeting of the fomc, that is somewhat surprising because the market priced in a sent 2015 start to rate hikes. melissa: what do you think? >> yeah, i'm -- melissa: go ahead. >> i'm sorry, there is no surprise. this is with john. market -- they don't want to upset the markets right now. this is just a i don't know, pabulum statement coming from the fed. melissa: charlie? >> yeah. i mean i think the market is still digesting it. raising it sooner is interesting. melissa: raising it sooner? look at market trading down on this? >> i think that is the headline. >> yeah, without question. >> we should point out they're raising it from the lowest rate
ever, zero. not exactly the -- >> in peter's summary was struck by lack of reference to the problems in europe and very certain influential emerging market economies like china. that is where we're getting concern regarding price deflation. commodity price deflation. >> it is possible, we haven't read the whole statement. there is probably a thousand caveats. melissa: there is but they did say inflation persistently below the target. i they think the threat of that is dim americaned. i think it got worse. diminished in that is crazy. >> they're looking very much like this -- melissa: not buying, nothing to worry about. >> you think inflation gotten worse? melissa: deflation is more after spector. >> agree. melissa: inflation persistently below the target. they're less worried about that. look what is going on, what is going on with oil prices. >> jobs part where they talked about the fact labor is doing a little better. that is where they're hanging
their hat. >> deflation only becomes a real big-time nightmare when it begins to spread to wages. i don't think that is going to happen anytime soon. melissa: really? we haven't seen any wage growth? >> we're getting nominal wage growth, 2%. but real ways, correct as you noted are stagnant. melissa: yeah. why doesn't that make you nervous? >> we move ahead at steady pace non-inflationary rate of growth. >> that is janet yellen. she has much better view of the economy than most of us do. she thinks it is stronger than surveys are asked how are you doing and they're going not very well. melissa: charlie, what do you think? >> i think it is confusing statement. i think it is impossible to ascertain what the fed is thinking here. i think fed is bitterly divided between hawks and doves. yes they like it where it is going. i don't think you can with this fed. they are at war with each other. janet yellen, richard fishers. much fisher wants to raise rates
tomorrow. she doesn't know. remember one of her jobs not when we get past next week's midterms is to get hillary clinton elected. melissa: stay where you are. although she would probably deny that. >> deny what? melissa: her job to get hillary clinton elected. she wouldn't like that statement but we hear you. here is man called for end to the fed, former congressman ron paul joins me now. >> ask i don't know. melissa: what is your reaction. >> my reaction to your statement if we ended fed all you guys wouldn't have any fun waiting on these expressions. melissa: we could find other things to have fun with. >> it would be so boring. melissa: what did you think happened today. >>ing into new. they're inflating like crazy. they claim there is no inflation because all they look at is the cpi. but the money supply keeps going up and keep buying and will not raise interest rates. if they quit qe and interest rates are not going to rise, how do they do? this? they have to buy something. manipulation of interest rates which is the real culprit. just remember when the crisis
hit in '08, everybody agreed it seems, talking heads are saying well all greenspan's fault because he kept interest rates too low too long. so what have we done for last five years? lowered them and kept them. they wonder why we don't have sound economic growth and why one-half of the economy is in shambles. if you take, people, below the median income, they're value of their wages are 90% lower than they were 14 years ago. melissa: a lot of people agree with you to think chickens will eventually come home to roost. how will happen? what is the thing we'll see explode? a bubble in equities? what is it? >> i think it wit be a debt problem just like it always is. all of sudden the debt is a problem in these various countries because debt is unsustainable. how much more mortgage debt can the fed buy to cause people to lose confidence? they have $1.7 trillion worth of mortgage securities and that is supposed to stimulate housing.
it really hasn't done anything like where housing was before the recession. so i think it will be a debt crisis but then again, it will be a confidence crisis because the only thing they can do is prop up the debt. all this inflation of the monetary system has done nothing but prop up a bad system of debt allowing the members of congress to spend and, it is just can not be -- melissa: inflated stocks as well but i mean you're talking about inflation. we're seeing, you know the possible specter of deflation especially as you look in europe. if you look at oil prices here you don't think that's a threat? >> no, not deflation pause of my definition of deflation is quite different than yours. deflation if the cpi goes down for some reason, government gimmicks or whatever, or, somebody has decreased in demand but deflation is when the monetary, money supply shrinks like in the '30s. no way they will allow that to happen. their goal is to with pull this
gimmick of propping up the stock market and hoping nobody decides to sell bond. and that is all they're doing and it is all over the place and people are supposed to feel good about it. but when you go out there, 80% of the people aren't feeling good about this. melissa: traders are not feeling booed, if we look at chart next to you right now the dow is trading down 80 points. what is your reaction to what congressman paul is saying there? >> i'm telling you, this is very confusing time in the markets. the markets don't know what to make of this report. i think deflation is problem in this country. when wages are this stagnant from a very low level i think that is specter of inflation. go ahead. >> ron paul is wrong for the simple fact that the fed hats been reducing -- melissa: let you back in congressman. >> yet at the same time, what has happened to treasury bond yields. they're moving lower. bond yields were supposed to be rising when the fed cut back on its bond buying.
melissa: let ron paul respond to that. >> there is no inflation out there. melissa: what do you think about that congressman? >> well there is a lot of inflation because they're increasing the supply of money and you have inflation in stocks. >> you're wrong though. you don't have a it right. you don't know the equation. money supply times the velocity of money equals gdp or price level. while money supply is rising velocity of money is falling. that is what is going on. >> that is right. melissa: let him respond. >> and look at the balance sheet in the last four or five years. gigantic growth and you're right, the velocity isn't there because you're pushing on a string and only tool that the interventionists have, ken syians have is print more money. it doesn't work. it is a waste of time and makes our props worst because the debt gets bigger, growth doesn't come back and poor get poorer. now we'll have a social crisis because 80% of the people think there is a crisis and all the talking heads say, well the if
he will take care of us. they print more money it will be okay. just take care of the stocks and people feel good. that is not going to work. melissa: we have to leave it there for now. thank you to all of you. we appreciate it. i want to note that the dow is down 62 points. it is off the low. we saw a lot of selling on the news. it bounced back a little bit. we'll keep a close eye on it. you can see the dow there. why foreign health care workers could be coming here for treatment. you just wait to see how much it will cost. plus airborne and ready to mingle. we'll show you an app that lets you get acquainted with your seat mate before you even board the plane. more "money" coming up. ♪
my name is daniel. i have diabetic nerve pain. the pain felt like my feet were on fire. i had these very burning, needle-like sensations. i knew i needed to see a doctor. my doctor said, "let's try lyrica." lyrica has helped relieve my pain. it's known that diabetes damages nerves lyrica is fda-approved to treat diabetic nerve pain. lyrica is not for everyone. it may cause serious allergic reactions, or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. or swelling, trouble breathing, rash, hives, blisters, changes in eyesight including blurry vision, muscle pain with fever, tired feeling, or skin sores from diabetes. common side effects are dizziness, sleepiness, weight gain and swelling of hands, legs and feet. don't drink alcohol while taking lyrica.
don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more likely to misuse lyrica. having less pain... it's a great feeling. ask your doctor about lyrica today. it's specific treatment for diabetic nerve pain. how couin jellyfish, protein impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price,
we understand the connections of a complex, global economy. it's just one reason over 70% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. melissa: all right the end of j jeqe as we know it and markets are not fine. they made up some of that ground. let's go to nicole petallides on floor of new york stock exchange with more. what are saying on the floor, nicole? >> watching everything and seeing stock market going through session lows for the dow jones industrial average. so we are up off those lows. we're down over 65 points. right now we're down about 55
points. we see all sectors turn into the red. materials, utilities, industrials, are particularly weak. what is interesting about the treasury yield that is interesting, the 10-year treasury yield spikes to a three-week high on this decision. so we're watching that right now as you know the talk of raising rates in june to september we are watching that as well. this is something we've been eager and you will see heavy trading volume mostly. melissa: nicole, thank you very much. we'll keep a close eye on the market but we want to bring you rest of the news. despite the fight to keep ebola out of the country but we could help to bring it in. internal documents reveal state department plan to bring ebola infected workers into the u.s. for treatment at price of up to $500,000 a person. let's in charlie and tom.
we have james frischling from new oak as well. tom, you have to love this story? >> you know what bothered by more than anything else is i understand that there is a health scare worker, they want to get them there from some other country. they say if you get sick, come on into our country, we'll take care of you, we're pretty good at it, oh by the way, pay the bill for bringing them here. that doesn't bother me as this nurse going like this to the people of maine, i will do what i darn well feel like doing. like doctor saying in new york i'm above all of this. the last thing that really bothers me is the government swore this was not on the radar. so they lied or either don't know what is going on within their own government about the fact that, yes, they are talking about bringing in people, health care workers from west africa. melissa: it is lie and cover-up that really bothers me. james, what do you think? >> i think big question they have to ask themselves, do we have to take the fight to west africa? is that where, where to be on the ground? i think overwhelming answer is yes. do we have to take leadership
role? the answer is resounding yes. the rest is being figured out. >> should we spend the money and -- melissa: the show is called "money." i want to talk about money. >> overwhelmingly we have to spend money. this is not something we want to play with here. listen, i think administration was feckless in their initial team to try to describe it. >> they still are. >> ability to contain -- >> pentagon. >> one thing we do know, it is worth spending, i'm telling you. melissa: we discussed earlier how hillary clinton was doing serious damage control after saying that you know, businesses they don't actually create jobs. charlie has been making serious calls on this one. >> i will say two things, number one, i watched what she said and you know how she said it. it appears she was reading off a script. this wasn't something that just popped into her head. this was something that she actually thought about, so it was premeditated i believe. she wanted to say this number two, see what her wall street friends, these guys i know them, tell me how great she is, how
centrist she is, that statement is corporations -- melissa: don't create jobs. >> that is like, if you believe the world is flat, the earth is flat. completely insane statement something a real lefty would say. i asked larry fink at blackrock. we asked lloyd blankfein at goldman sachs and tony james at blackstone, three major hillary boosters on wall street will raise her money what do they think? guess what they said? nothing. they won't return my calls. >> won't return your phone calls? i was on edge of my seat there. they won't return your phone calls? what are people telling you off the record? >> they think she is insane and they think democratic party -- melissa: totally insane. >> think of it. the bottom line is this. how would her husband respond to something like that? he would have threaded needle in a lot different ways. one problem hillary clinton has got, this is money show, does reflect your money, left-wing of democratic party controls party. believer in higher tax, higher
minimum wage, all the lefty things. she has to say. melissa: we're down 90 points. >> when i started speaking we went down? melissa: all your fault, charlie. this is of course after the fed decision earlier today. people are having a chance to read deeper into the language to separate out what they're saying. one thing caught our attention it sounded like in the language they might raise rates sooner than we thought. these are all things being digested. we're not taking our ice off the market. >> 9-1 vote. >> i will believe it when i see it. melissa: facebook reporting initially positive news for investors after it beat earnings for sixth straight quarter. it was downhill for there. social media giant said the costs will jump specifically because of a spending spree. that sent the stock plummeting. 55 to 75% increase in expenses in 2015 and oh, by the way, zuck got on the phone, we said we're not planning to make money off virtual reality headsets. he said clearly we're not a
hardware vendor. we'll not try to make a profit selling devices. why would you? who cares about making money. wait, your stockholders this isn't jeff bezos speaking. this is facebook, they still, any business would give their left arm for 40 to 50% revenue growth and wall street is complaining about it. >> i would say this i don't think zuck should be communicating that specific message. melissa: don't think let him on the phone? >> sheryl sandberg should be making that point. one of the things that separates these guys out from twitter is management. she may be the most arrogant pain in the rear end person in the world. melissa: come on. no name calling. >> she might be but very effective business manager and the street likes her. >> market has been punishing company trying to be conservative on forward outlook, not rewarding companies for very good earnings and facebook earnings hit cover off the ball. i think they're doing right thing. i was criticizing facebook not enough investment. i think that is the right move. melissa: we'll leave it there. thanks, guys. if things couldn't get any
weirder, pepsi tickling folks pink with a new strawberry milk very. how weird is that, right? don't ask about its salty watermelon and red bean flavors. oh. dramatic explosion in the sky. would it put you off from being a space tourist? lots of companies are hoping not but i don't know. do you ever have too much money or too much space travel? ♪ synchrony financial partners with over two hundred thousand businesses, from fashion retailers to healthcare providers, from jewelers to sporting go stores, to help their customers get what they want and need. banking. loyalty. analytics. synchrony finaial. engage with us.
are the largest targets inhe world,d, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter. hard it can be...how ...to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate.
these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if your breathing suddenly worsens, your throat or tongue swells,... you can get hives, vision changes or eye pain, or problems passing urine. other side effects include dry mouth and constipation. nothing can reverse copd. spiriva helps me breathe better. sfx: blowing sound. does breathing with copd... ...weigh you down? don't wait ask your doctor aut spiriva handihaler.
what happened last night in virginia. >> it was a rocket as part of the nasa space program but it was a private company, orbital sciences. their rocket exploded moments after liftoff. you're watching it, absolutely phenomenal stuff here, guys. that is live right now. that is the scene where, this happened. melissa: that was "making money with charles payne" as a live reaction as $200 million quite literally went up in smoke. shares of company behind the rocket, orbit al sciences were halted after falling 16%. charles announce r joins us now. the big question says what about private industry and space business? not like there haven't been accidents before. >> exactly. anyone out there who still thinks that the government should run these programs certainly after last night, bolsters their argument to a certain degree. we don't want to go tit-for-tat to talk about all disasters to happen when this was 100% run by
government, particular lay nasa. we understand the private sector will make this better. it is orbital. it is spacex. that was -- melissa: space accident. , you know, a little advantage. >> it does. melissa: not that they haven't had their tail lures. >> i wouldn't crow bit. here is the interesting thing,3 russia today launched and took a package up to the international space station. melissa: yeah. >> the first stage of this rocket last night is an old russian rocket. it was developed in 1960s and '70s. of course it was retrofitted. only several seconds we'll see what happens. that would probably be the cause of it. it just says we've got to really, if we're going to do this privately, we have to speed it up. melissa: i want to see video from last night. if we can see the explosion. i don't know why we're not look at it now this is incredible. everybody was talking about this today. >> thank god it was unmanned. thank god, it was umanned. orbital was supposed to merge
with atk, alliant tech. that vote is coming in november or december. it is interesting, alliant tech this is the first time their rocket was part. this is the third launch for orbital. they have a contract with eight of them. nasa came out and said contract is still on. the necessary launch will be more intricate. melissa: that is view from a plane. >> wow. melissa: you could see this everywhere. people taking pictures and on social media was he have where. that is the view from above. really incredible. there are so many companies trying to get into the space tourism business, you wonder does this, i guess if you're thinking about going into space, as individual anyway you're already, do you have a death wish? >> i think people say to themselves, are you more comfortable with the private sector involved in something like this or military? because despite the fact i'm one of these free markets kind of guys, because i think the military doesn't work on profit motive, they can spend the extra money. some people feel like they spend all the extra money on security
precautions and things like that as opposed to maybe cutting occasional corner. so to your point. melissa: charles payne, thank you so much. >> got it. melissa: she is out of that new jersey quarantine tent but still in the headlines. governor christie's favorite nurse now refusing to follow the ebola guidelines. in maine though this time. plus, the red hot race for washington. midterm races running closer than ever despite plummeting numbers for president obama. take it away, jon stewart. >> the president, nobody likes him, everybody hates him. according to white house press secretary josh ernest, there are reports that the president thinks he should -- [inaudible] it's monday. a brand new start. your chance to rise and shine.
with centurylink as your trusted technology partner, you can do just that. with our visionary cloud infrastructure, global broadband network and custom communications solutions, your business is me reliable - secure - agile. and with responsive,dedic, we helyou shine every day of the week. it's more than the car.er. for lotus f1 team, the competitive edge is the cloud.
democrats. the slim margin for the gop despite widespread opposition for president obama's agenda. 58% vote his policies down come november. here now steve moore of the heritage foundation, charlie is back as well. steve moore, sort through the polls for us, what do you think? >> the big problem for democrats is it was president obama who said his policies are going to be on the ballot on tuesday, and that has caused us a lot of heart burn. melissa: why is the margin getting smaller instead of bigger. i agree with you, it seems people don't like the policies. >> probably the answer is republicans still haven't totally sealed the deal. look, president obama is unpopular. republicans are unpopular as well. they haven't done the damage control that goes back to the bush years, but i'm still predicting a big republican sweep. >> go ahead, charlie. >> i don't know how you surmise from the national polls what's
predecessors. >> anybody think vladimir putin would have gotten into crimea had george w. bush been president of the united states? no! even putin is smart enough to know bush would have punched him in the nose within ten seconds [ laughter ] . melissa: i like him in the half zip. do you think this is hitting home or what do you think? >> i think the republicans are just as weak on foreign policy, and in fact there's real world experience to look at during the bush administration's so-called war on terror? we see where that left us. unfortunately the republicans don't have a viable alternative to the democrats weakness. >> i'm going to disagree with that. >> isis was not controlling iraq back when george bush was -- i'm not saying george bush was perfect, far from it. terrorists weren't in control of the world. >> republicans want someone who is tough, obama draws lines in the sand and putin walks over
it. this is a huge advantage for republicans, people feel nobody is in charge. >> how come the poll is not reflecting that? >> because. who knows -- they're not weighted average, not like you're giving a weighted average in california and new york. they are problematic in the midterm election. melissa: foreign policy not the only area where they are struggling. two thirds think appointing an ebola czar was a public relations move. 67% versus a serious attempt to -- >> a czar? melissa: dude, where's my czar? >> the person who barack obama put in charge of being the ebola czar is a public relations person, he's not a health expert. it was laughable. melissa: yeah. >> one thing if they put on leon panetta. i know leon, and he's a democrat, a liberal, but knows how to get stuff done. this guy was a very political guy. melissa: he was laying around,
standing there, ummm, that guy. he's a permanent staffer, we know what he's going to do. you can do this for a couple weeks? it would help us, thank you. jonathan, go ahead. >> americans are repolicied by a czar. this is a country found on the antithesis of czars. everything that comes to the white house is politics, and this is the latest example. melissa: i don't think we would mind having one person far removed from us, go fix the problem. >> we have plenty of people could have done, it anthony fauci, the head of the nih. people the head of the cdc. tom friedman. melissa: despite efforts to contrary, governor andrew cuomo insisting that he never changed his stance on confinement. listen. >> governor christie did not change his position, i did not change my position, we
articulated a position, we outlined it on friday, detailed it over the weekend, and the position was exactly the same. melissa: mmmmmm. >> what is the position? >> when i hear andrew cuomo speak, i laugh half the time. melissa: come on. >> he is the definition of a politician. this guy double speaks in every other word out of his mouth. melissa: kaci hickox, the nurse who returned home after a brief, brief quarantine in new jersey where she complained a lot is refusing to follow the health guidelines in maine. what do we think about this one? jonathan, does it make you want to go to maine on vacation? >> i feel extraordinarily safe from the ebola crisis, melissa. melissa: you do? >> how many people out of a nation of 335 million have ebola right now? not a huge amount. what i find frustrating is people don't acknowledge the potential risk they pose to
other americans and put other folks at risk. >> jonathan, the heart of being a libertarian is my rights extend and infringe upon your rights. what she is not realizing is her rights do not intend to make me sick. we're asking for a 21-day incubation period. >> by the way, maine is a tourist state. this is going to freak people out and hurt the economy. and look, i don't have a problem with a quarantine. >> not going to freak out people one bit. kennebunkport is going to be very busy this summer, melissa, don't worry. melissa: leave it there. grow up before you light up the tobacco industry stands to lose billions as more states join the boost to push the legal smoking age. we'll speak exclusively with the founder of uber facts. i love uber facts, addictive and informative, chock-full of
the weirdist, strangest facts you will never need, nonetheless, are wildly entertaining. he's making a fortune! guess what's his favorite uber fact. it is going to drive you mad trying to think of it. at the end of the day, it's all about cold, hard cash. at momente right place meets right time. and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours.
can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? and often, that day arrives even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.
. melissa: a big surprise from nintendo, announced it's on track to post first yearly profit in four years. sales of wii-u games doubled from a year ago. baby wipes have been recalled for not being clean. wow! with some found to contain dangerous bacteria. those with weak immune systems particularly at risk. the wipes may have been sold under cutis, sunny smiles and well beginnings. i have the last one. and blow to the tobacco industry, the latest to raise the smoking age to 21. cigarette makers could lose 2 billion dollars if the change is made nationally. that is the latest from fox business network, giving you the power to prosper.
. melissa: president obama is said to deliver remarks on the government's response to the ebola crisis in the next hour. the president is meeting with members of public health and national security teams. fox business is going to bring you the comments live as soon as they happen. don't worry about it. we got it covered. imagine making half a million dollars a year by tweeting for a living. sounds fantastic! that is a reality for the 23-year-old founder of
uberfacts. all he has to do is share multiple quirky facts a day. sounds easy. i have a feeling there is a little more to it. chris sanchez joins us now from l.a. how do you decide on the content. i love it, i enjoy it every day, how do you decide what to put out there? >> you know, i just to read it and find it interesting. if i find it interesting, other people will find it interesting as well. melissa: i wonder how you figure out what you're putting out is true. some of the facts seem totally incredible. how do you source check and make sure you are right? >> uh-huh. i have great trust in the staff i have finding them, and also cross-reference the facts that they find. i make sure that there's other information on the internet about what i'm tweeting. melissa: what is your favorite uberfact that you put out so far? >> you know, it's a recent one, but my favorite uberfact had to be on the term mad as a hatter.
do you know where that term came from? melissa: no, no, the mad hatter. >> so hat makers in the 19th century would get mercury poisoning from the mercury in the felt of the -- what they were using for the hats and cause them to go crazy. that's where the term mad as a hatter came from. melissa: i enjoy your tweets and i send them to staff and share with kids. i was shocked to hear you make so much money doing this. i don't understand where the revenue comes from. i see it in the twitter feed. i heard you make half a million dollars a year, how do you do that? >> yeah, yeah, all the monetization is in web traffic. i have a great partner called social reactor, and they're an ad network and provide me with galleries to followers that they find interesting and in exchange i bring them web traffic. melissa: what web traffic do you bring them? i see it in the twitter feed, i
laugh at it, share it, i'm not going anywhere as a result of it? >> if you go down the twitter feed you will see tweets that have links and pictures to galleries. melissa: in other people click there even though i don't. chris, what's popular, what's the sweet spot? what do you get the best reaction to? >> in terms of a fact tweets, things that are relatable, things that the average person, people love relationship facts and love facts about big celebrities, so that's what does the best. melissa: do you get pushback, this is absolutely not true, i know for a fact and get mad at you? >> all the time. i can tweet the sky is blue, and someone will say no, it's not. it happens all the time, no matter how true it is. melissa: how do you respond to the people? do you chat with them individually? >> you know, often from personal twitter account if i don't think they're trolling, i will provide them with a link
to where they can read more about it. melissa: kris, thank you so much, it was a pleasure. >> thank you for having me. melissa: heading into the last hour of trading, let's check in with liz claman and see what she's got coming up on her fine program. >> why is the market down? why is anybody surprised that qe was ending, melissa? there must be something else bringing the dow industrials down 50 points. what is it? michael cox, former federal reserve economist and jack kaplan, 66 billion in assets at bmo, not to mention brian westbury of first trust, the chief economist. that i have ideas and will comment when the fed will tighten rates and why did alan greenspan say at a dinner last night, wait, i'll tell you what alan greenspan said. we have the red hat ceo, talk about a growth company that years after being founded, you
and i covered them years ago, melissa. profits and revenue up 19% year-over-year, stock jumping 32% and taking on oracle and amazon and a whole bunch of companies when it comes to trying to create a cloud opportunity for everybody. plus the wall street banker involved in probably one of the most salacious sex scandals. charlie gasparino on the talk of wall street, which bank he works for and why this is news, back to you. >> quite a tease there, liz. that's scandal. >> a lot of it. melissa: we'll tune in, thank you. from the u.s., every corner of the globe money flying around the world. starting in china, big brother is coming, we do not mean the government. a chinese version of the popular reality tv show will launch early next year. the 15-year-old program has been made in five continents and basically films people living together in a large house with no outside contacts. there you go. to iceland where the
world's largest volcano is erupting, goinggon for nearly two months now, it is admitted the most lava in iceland since 1947. look at that. it is enough molten rock to fill 740 empire state buildings. landing in japan, pepsi is thinking pink and launching a strawberry milk flavored cola. delicious! the limited edition drink will had the shelves in december. this is the first time pepsi launched a wild flavor. in japan. past flavors are iced cucumber, salty water melon and red bean. red bean? red bean. attention passengers, want to get a sneak peek of the person next to you on the flight? there's an app for that. game 7, the royals forcing a final matchup that will decide the world series but snagging a last-minute ticket is going to cost you bigtime!
. melissa: our sympathies to all the sweaty palms in kansas city and san francisco. game 7 between the royals and giants gets going in about 5 1/2 hours from now at kauffman stadium. it is not a cheap ticket. the average price on stubhub, almost 1,000 bucks. we might have to start a collection plate for senior producer, a die hard royals fan. she is heading to the game as we speak. you know who we're rooting for. only because we don't want to have to deal with her if the royals lose. no offense, san francisco. near session lows right
now. the dow was down 100 point. let's go back to nicole petallides on the floor of the new york stock exchange. what are traders talking about now? >> interesting we've seen the vix to the upside, a spike in that. up 8, 9%. the traders are looking at the closing bell, trying to give it a go with the consumer stocks, business index is higher. those are some of the safe havens. last time we spoke we thought that was the low of the day, around 2:15 we saw that. and only to see a ip take another leg down. so that was at around 2:20 p.m. as we're going into the close, could go either way. back to you. >> hang tight, nicole. social media invading your next flight. the travel app quickit allowing passengers to do a deep dive on their seat mates before they get on the plane. worth noting, both parties have to be checked into the app for this to work.
nicole is with us, along with jonathan hoenig. i'm thinking notorious buyers like alec baldwin should be required so you know you are mentally prepared for the person you are sitting next to. do you like, this jonathan? >> amazing, it reflects the new emergent technologies of spatial identification, are family around me? friends around me? people from city or town around me, and the fact it is a voluntary, you don't have to be identified. melissa: i can't believe you are trying to be serious about this. it is clearly a dating app in the sky. no, no, you were trying to be serious, now i'm going to nicole. >> airline match.com, what's interesting, let's say i have hollywood's greatest next to me. maybe i'll get an extra piece of gum. big picture, no! >> you are used to men asking for your numbers. melissa: a picture with a small
baby so no one will want to sit next to me. thanks, guys. amazon giving illinois christmas present recall with plans to bring 1000 jobs to the state. it is looking like a lump of coal. for jeff bezos, at the end of the day, it's all about money. she's still the one for you. and cialis for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptomof bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is althy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop iblood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injy, get medical help right away
for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any allergic reactions like rash, hives, elling of the lips, tongue or throat, stop taking cialis and get medical help right away. ask your doctor about cialis for daily use and a free 30-tablet trial. ask your doctor about cialis for daily use means keeping seven billion ctransactions flowing. and when weather hits, it's data mayhem. but airlines running hp end-to-end solutions are always calm during a storm. so if your business deals with the unexpected, hp big data and cloud solutions make sure you always know what's coming - and are ready for it. make it matter.
. >> amazon customers in illinois had a bit of a rude awakening. the warehouse comes with unexpected guest! the taxman. fox business' jeff flock is live in wisconsin with this one. give us the dirty details. >> reporter: it cuts both ways, melissa. this is the one in wisconsin, the big amazon fulfillment center, essentially a warehouse, they're putting the final touches on it out here. with the fulfillment center comes the taxman, in illinois, this is one of the states where they were not charging sales
tax because amazon did not have a person from the state. not anymore, illinois has been trying to tax internet commerce for the past three years since 2011. and they have passed two bills, had one thrown out by the supreme court and so far collected zero in taxes. that's all going to change as soon as they get a site for the fulfillment center there. where would amazon do business, illinois or wisconsin. take a look at numbers. here wisconsin they made $155 million investment. in illinois just a $75 million investment because they got a $10 million tax break here. this is a 1.5-million-square-foot facility employeeing about 2000, 2,000+ folks at holiday season, and the way it cuts worse for illinois, melissa, this fulfillment center is just
over the illinois border. 60 miles from downtown chicago. they'll have people working here but delivering in illinois where they'll be paying sales tax and won't have as much stuff. >> that's all we have for now, hope you're making money, here's liz. liz: qe over, the fed wrapping up controversial bond-buying program. this has taken months and months at 10 billion at a time and in a price move upgrades view of the job market. wall street shoving that assessment away as it grapples with news whether the labor market is gooo news or bad news? we have a sell-off. stocks losing air across the board. a lot of red on the screen. after the announcement the dow dropped 104 points. right now down 61. the nasdaq losing 24. it had been down 47 points. s&p lower by 8 points. anything can happen to your money in this all-critical hour.